Bumpy ride will be well worth it

Professional Adviser
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Fund manager's comment/Prakash Rajasekaran

We expected to see a wave of profit warnings during the second quarter reporting season and we have not been let down. But the sheer size of some of the warnings has shocked investors. Figures from JDS Uniphase, the world's biggest optical components maker, stunned the sector. It lost $50bn in the year to June 30, a loss believed to be the biggest in corporate history. It has also announced it is to shed 7,000 jobs and follows profit warnings from the likes of Nortel and Lucent Technologies. But while we expected the bad news, we had hoped the profit warnings would come with a r...

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